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Data monetization vital to insurers’ future success

OVERVIEW

Insurance companies will need to find new revenue sources or risk extinction as their traditional business models face disruption. Data monetization could be worth $6-8 billion of new annual profit for the industry.

Many insurers already hold vast amounts of data with unique insights that can be connected and enriched with external data sources to fuel new business models. But, to translate this information into profit they need to think beyond their traditional business models—and they need to act fast!

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